Gupta tied up with the company’s team in 2015 as its Business Head who was later named as company’s CEO( Chief Executive Officer ) in 2018 and as a co-founder in 2019.
On September 14 , 2021, the co-founder and supply head of online food delivery platform Zomato, Gaurav Gupta resigned as confirmed by him in an email.
In an email sent on Tuesday, Gupta expressed his words and said he’s taking an “alternate path” in his journey. Email noted, “I am taking a new turn in my life and will be starting a new chapter, taking a lot from this defining chapter of my life- the last 6 years at Zomato. We have a great team now to take Zomato forward and it’s time for me to take an alternate path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now.”
Deepinder Goyal, company’s CEO, responded with gratitude, “Thank you GG for everything you have helped Zomato achieve over the last few years. We have seen Zomato through great as well as terrible times together, and brought it here today. There’s so much of our journey still ahead of us, and I am thankful that you are hanging your boots at a point where we have a great team and leadership to carry us forward.”
Gupta is not the first one to quit Zomato. Pankaj Chaddah, co-founder of Zomato, had also resigned back in the year 2018.
He has vacated his position right after the company decided to sew up its operations in the grocery delivery service on September 11, 2021, which will come into effect on September 17, 2021.
Gupta tied up with the company’s team in 2015 as its Business Head. He was also positioned as Global Advertising Sales Head and later in 2018, he was named as the Chief Executive Officer of the company.
Zomato raised an IPO worth Rs.9,375 crore two months ago which was opened for subscription from 14 to 16th July. The market capitalization of the company stood remarkably at Rs. 1,08,067.35.
As a recent update, the company closed down its grocery delivery service due to differences and gaps in fulfilling customer’s orders and lacking its service in the express delivery approach model. Akshant Goyal, Chief Financial Officer of the platform disclosed that the company claims over $100 million of stake in Grofers, an online grocery delivery service. Although the company had “moderate success” in the grocery delivery service to its users from neighborhood stores, it is believed that the company would get better returns from its investment in Grofers. The company’s note said, “We have realized that it is extremely difficult to pull off such a delivery promise with high fulfillment rates consistently in a marketplace model (like ours).”